How Is The Market Feeling About Snap?
Portfolio Pulse from Benzinga Insights
Snap Inc. (NYSE:SNAP) has seen a 3.11% increase in its short percent of float, now at 9.29%. This indicates a bearish sentiment among investors, as it surpasses the peer group average of 7.75%. It would take traders 4.87 days to cover their short positions.
May 15, 2024 | 4:30 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Snap Inc. has experienced a 3.11% increase in its short percent of float, now at 9.29%. This suggests a bearish sentiment among investors, as it is higher than the peer group average of 7.75%. It would take traders 4.87 days to cover their short positions.
The increase in short interest indicates that more investors are betting against Snap, which could lead to downward pressure on the stock price in the short term. The fact that Snap's short interest is higher than its peers further supports this bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100